Beyond Dawlish
Mexico Wind Energy Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.30% (2024-2032)
The commitment of the country to expanding its renewable energy capacity as well as lowering its reliance on fossil fuels are the factors responsible for the growth of the Mexico wind energy market. According to the latest report by IMARC Group, The Mexico wind energy market size reached 21.4 GWh in 2023. Looking forward, IMARC Group expects the market to reach 32.08 GWh by 2032, exhibiting a growth rate (CAGR) of 4.30% during 2024-2032.
Mexico Wind Energy Industry Trends and Drivers:
The Mexico wind energy market is expanding rapidly, owing to several interconnected factors. Primarily, the market is driven by the commitment of the nation to increasing the capacity of renewable energy sources as well as its wealth of wind resources. Besides this, Mexico is making more investments in wind energy projects as part of its plan to reach the renewable energy goals set forth in the Paris Agreement. In line with these factors, the growing demand for clean and sustainable power sources, coupled with government policies and incentives such as tax benefits and renewable energy auctions, is significantly propelling the expansion of the Mexico wind energy market. Additionally, the declining costs of wind energy generation due to technological advancements and economies of scale are further encouraging the adoption of wind energy in Mexico.
A key trend in the Mexico wind energy market is the development of large-scale wind farms, particularly in regions like Oaxaca, which have some of the strongest wind resources in the country. Moreover, the integration of advanced turbine technologies with higher efficiency and capacity is enhancing energy output and driving competitiveness against traditional energy sources. In addition to these factors, the market is also witnessing increased participation from international investors and developers, contributing to the rapid expansion of wind infrastructure. Furthermore, efforts to improve grid connectivity and storage solutions are addressing challenges related to intermittency and transmission, ensuring a stable supply of wind-generated electricity. Consequently, the growing focus on decarbonization and energy diversification is anticipated to propel the expansion of the Mexico wind energy market over the forecasted period.
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Mexico Wind Energy Industry Segmentation:
The report has segmented the market into the following categories:
Component Insights:
- Turbine
- Support Structure
- Electrical Infrastructure
- Others
Rating Insights:
- ≤ 2 MW
- >2 ≤ 5 MW
- >5 ≤ 8 MW
- >8 ≤ 10 MW
- >10 ≤ 12 MW
- >12 MW
Installation Insights:
- Offshore
- Onshore
Turbine Type Insights:
- Horizontal Axis
- Vertical Axis
Application Insights:
- Utility
- Industrial
- Commercial
- Residential
Regional Insights:
- Northern States
- Central States
- Southern States
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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